Accenture has introduced an upgraded version of Alnova Financial Solutions, its core banking platform, which can be implemented through the broader use of standard software components.
The company said that the new version can help banks by supporting their changing product and pricing requirements. It can be integrated with legacy systems using service-oriented architecture (SOA) and third-party business process management tools.
Matthew Edwards, MD of banking software-backed solutions in Accenture’s financial services group, said: “Banks are currently at a crossroads, pressured to aggressively cut costs while positioning for advantage when the cycle shifts to growth. The high cost of maintaining and enhancing legacy systems stand squarely in the way of the kinds of product and service innovations needed in an increasingly competitive environment.”
Teresa Alvarez, Senior Executive and Head of core banking transformation services in Accenture’s banking industry practice, said: “Our development approach with Alnova is to balance the benefits of both standardized packages and tailored solutions. This upgrade can provide a full range of capabilities and reusable components for easier upgrading, while helping to enable customization without all of the high costs of adapting external systems to core platforms.”
Accenture is a global management consulting, technology services and outsourcing company.
